A Letter of Intent (LOI) was signed between the Special Technology Zones Authority (STZA) of Pakistan and the Shenyang Economic and Technological Development Area (SEDA) of China to advance their organizations’ collaboration in the technology sector.
SEDA, which was founded in 1988, serves as a production base for several well-known biotech and car companies, including BMW Group, Neusoft, Pfizer, NCR, and IKEA.
Zhao Yongsheng, the Director of the Management Committee of SEDA, spoke at the virtual event and emphasized SEDA and the accomplishments of organizations connected to it. In addition, he explained, 84 Fortune 500 businesses from across the world operate in SEDA in the fields of high-tech manufacturing, automotive, research and development, and next-generation information technology. SEDA also houses the largest production plant for BMW in the whole world.
He praised the close ties between China and Pakistan and promised his organization’s unwavering support for STZA as they collaborate in the fields of innovation, entrepreneurship, human capital development, and digital economy.
Speaking at the event, Amer Hashmi, Chairman of STZA, said Pakistan’s technology industry provides Chinese partners and investors options that are competitive on a global scale because of its rapid expansion.
In order to expedite collaboration with the Chinese technology industry, he emphasised that Pakistan has a special demographic advantage because over 64% of its population is young. He sees enormous potential in collaborating with SEDA through STZA’s dedicated China Desk.
He thanked the leadership of SEDA and Moin ul Haque, the Pakistani ambassador to China, for facilitating the collaboration between STZA and SEDA. He also pledged his support for carrying out the two organizations’ joint objectives.
China and Pakistan are key allies, according to Gao Wei, vice mayor of the Shenyang Municipal People’s Republic, who noted that the two countries have a long history of peaceful collaboration in a variety of development areas. He said that Shenyang is developing centres for technical, industrial, and scientific advancement, with a focus on fintech in particular. He promised to facilitate collaboration between SEDA and STZA and said that the technology industry offered a fresh opportunity for possible collaboration between the two friendly countries.
The ambassador of Pakistan to China, Moin ul Haque, emphasised the longstanding connections between the two nations and thanked Chairman STZA and his staff for their efforts to support Pakistan’s knowledge economy. He reaffirmed the Embassy of Pakistan in China’s commitment to facilitating continuous interactions between STZA and the Chinese technological ecosystem and referred to the LOI as a step in the right direction for improving ties and cooperation between the two nations.
Haque added that the two sides would strengthen their collaboration through a Joint Working Group in order to put into practise their shared goals of developing a world-class technology ecosystem in Pakistan, generating employment opportunities, and empowering young people through technology-driven economic transformation.